Churing and Excessive Activity

Nicholas Sabellico of Fort Lauderdale Florida a stockbroker formerly registered with Laidlaw Company (UK) Ltd. is the subject of a customer initiated investment related arbitration claim in which the customer requested $25,413.00 in damages supported by accusations that between 2015 and 2017: (1) transactions executed in the customer’s account were in no way appropriate for the customer (2) unauthorized transactions were effected in the customer’s account and (3) the customer’s stock and over-the-counter equities portfolio had been churned. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-01736 (May 15, 2018).

FINRA Public Disclosure additionally reveals that a customer initiated investment related arbitration claim concerning Sabellico’s conduct was resolved for $450,000.00 in damages founded on allegations that while Sabellico was associated with J.D. Nicholas Associates, the customer’s investment account had been mismanaged; unsuitable stock and over-the-counter equities transactions were recommended to the customer; and J.D. Nicholas Associates Inc. failed to supervise Sabellico’s activities in the customer’s investment account. FINRA Arbitration No. 14-02266 (Nov. 30, 2015).

FINRA Public Disclosure further confirms that Sabellico was discharged from prior employer, JP Morgan Chase Bank, supported by accusations that Sabellico set up features in the customers’ accounts without the customers having known or consented to the transactions; conduct violative of the firm’s policy.

Sabellico’s registration with Laidlaw Company (UK) Ltd. has been terminated as of March 29, 2018. Sabellico worked at Tradespot Markets Inc. between March 14, 2018 and May 4, 2018. Then, on October 3, 2018, Sabellico became associated with Craft Capital Management LLC. Since September 13, 2004, Sabellico has been associated with twelve different broker dealers, six of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct. #cockroach